Kentucky Statutes 286.5-900 – Definitions
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As used in KRS § 286.5-905 and KRS § 286.5-910, unless the context otherwise requires:
(1) “Control” shall have the meaning accorded the term in the Federal Savings and Loan Holding Company Act, 12 U.S.C. § 1730a(a)(2), as amended. “Control” may be acquired by acquisition of voting securities, by purchase of assets, by merger or consolidation, by contract, or otherwise;
(2) “Deposit” means any demand negotiable order of withdrawal, time certificate, savings deposit, or savings share account made by an individual, corporation, state or federal governmental unit or any other organization without regard to the location of the depositor; however, excluded from deposits are all inter-savings and loan association or interbank deposits and all deposits in foreign branches and international banking facilities as shown in the reports made by all savings and loan associations to their respective supervisory authorities;
(3) “Individual” means a natural person, partnership, association, business trust, voting trust, or similar organization. Individual does not include a corporation;
(4) “Savings and loan association” means any savings and loan association or savings bank organized under the laws of this state, under the laws of any other state, or under the laws of the United States;
(5) “Kentucky savings and loan association” means a savings and loan association having its principal place of business in this state;
(6) “Principal place of business” means:
(a) With respect to a savings and loan association, the state or territory in which the savings and loan association’s total deposits are the largest, as shown in the most recent report of condition or summary report filed by the savings and loan association with its supervisory authority; and
(b) With respect to a savings and loan association holding company, the state or territory in which the total deposits of all direct and indirect savings and loan subsidiaries of the savings and loan association holding company are the largest, as shown in the most recent reports of condition or summary reports filed by the savings and loan association holding company and its savings and loan subsidiaries with their respective supervisory authorities;
(7) “Savings and loan association holding company” has the meaning accorded the term in the Federal Savings and Loan Holding Company Act, 12 U.S.C. sec.
1730a(a)(1)(D), as amended, except that the term shall include mutual savings and loan association holding companies organized pursuant to Section 408 of the National Housing Act, 12 U.S.C. § 1730a(s), as amended.
Effective: July 15, 1988
History: Created 1988 Ky. Acts ch. 156, sec. 1, effective July 15, 1988.
Formerly codified as KRS § 289.900.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.
(1) “Control” shall have the meaning accorded the term in the Federal Savings and Loan Holding Company Act, 12 U.S.C. § 1730a(a)(2), as amended. “Control” may be acquired by acquisition of voting securities, by purchase of assets, by merger or consolidation, by contract, or otherwise;
Terms Used In Kentucky Statutes 286.5-900
- any other state: includes any state, territory, outlying possession, the District of Columbia, and any foreign government or country. See Kentucky Statutes 446.010
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means a savings and loan association subject to the provisions of this subtitle and as used in KRS §. See Kentucky Statutes 286.5-011
- Business trust: includes , except when utilized in KRS Chapter 386, a "statutory trust" as organized under KRS Chapter 386A. See Kentucky Statutes 446.010
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Federal: refers to the United States. See Kentucky Statutes 446.010
- Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
- Person: means a natural person, or any type or form of corporation, company, partnership, proprietorship, association, or other legal entity. See Kentucky Statutes 286.1-010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Statute: A law passed by a legislature.
(2) “Deposit” means any demand negotiable order of withdrawal, time certificate, savings deposit, or savings share account made by an individual, corporation, state or federal governmental unit or any other organization without regard to the location of the depositor; however, excluded from deposits are all inter-savings and loan association or interbank deposits and all deposits in foreign branches and international banking facilities as shown in the reports made by all savings and loan associations to their respective supervisory authorities;
(3) “Individual” means a natural person, partnership, association, business trust, voting trust, or similar organization. Individual does not include a corporation;
(4) “Savings and loan association” means any savings and loan association or savings bank organized under the laws of this state, under the laws of any other state, or under the laws of the United States;
(5) “Kentucky savings and loan association” means a savings and loan association having its principal place of business in this state;
(6) “Principal place of business” means:
(a) With respect to a savings and loan association, the state or territory in which the savings and loan association’s total deposits are the largest, as shown in the most recent report of condition or summary report filed by the savings and loan association with its supervisory authority; and
(b) With respect to a savings and loan association holding company, the state or territory in which the total deposits of all direct and indirect savings and loan subsidiaries of the savings and loan association holding company are the largest, as shown in the most recent reports of condition or summary reports filed by the savings and loan association holding company and its savings and loan subsidiaries with their respective supervisory authorities;
(7) “Savings and loan association holding company” has the meaning accorded the term in the Federal Savings and Loan Holding Company Act, 12 U.S.C. sec.
1730a(a)(1)(D), as amended, except that the term shall include mutual savings and loan association holding companies organized pursuant to Section 408 of the National Housing Act, 12 U.S.C. § 1730a(s), as amended.
Effective: July 15, 1988
History: Created 1988 Ky. Acts ch. 156, sec. 1, effective July 15, 1988.
Formerly codified as KRS § 289.900.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.